But if there's anything worse than Helengrad's toxic legacy, it is what ELEVEN years of ZaNuLairbore has done to Britain.

Hell, unemployment here ROSE to six per cent in figures announced yesterday, and what with fresh redundancies announced this month yet to work their way through, probably tops the 6-7% Treasury officials fear for New Zealand a year or two from now.

Unemployment is growing so fast, 3 million unemployed, over ten per cent of the workforce, is expected in a year or so. There's talk of bail-outs for what is left of the car industry and sterling is sinking too.

So we might feel like a good bleat at the state of the New Zealand economy, but look at Gordonistan, where Liarbour is leaving a far bigger mess for the UK Tories to inherit.

New Zealand looks set for a far brighter future as China's farm than the increasingly 'Bankrupt' Britain!!

7 comments:

New Zealand looks set for a far brighter future as China's farm than the increasingly 'Bankrupt' Britain!!

Nope. It's just that the UK MSM - yeah even the Guardian - are far more realistic than the NZ media.

The rule is simple and has lasted that way for the last 100 years or so: NZ's economy follows the UK+US cycle a couple of years behind and 5% worse

So if the UK is looking at 10% unemployment, and the US 12% we'll be up around 15%. If they're now saying the depression will last until at least 2012, we won't be out of this mess until say 2015.

this will mean no new government spending

bullshit! It will mean vastly reduced tax take (corporate tax income for 2009 is already predicted to be almost zero) and hugely increased actual spending as the dole goes up, DBP goes up, state school and hospital goes up as people dump their private provision.

I agree, completely, that we should have no new government spending - that in fact what we need to do urgently is to liquidate whatever we can (KiwiRail, Cullen Fund, Genesis, Health, Education) to cover the existing shortfall, and to quickly reduce our spending obligations so that we can actually pay for what we're spending.

But only ACT are promoting this, and it seems National isn't listening.

Can you plot a graph with US, UK and NZ unemployment percentages sourced from official statistics for us for the last century?

Fuck off. Do your own homework. But I have been around since muldoon and I remember the way the economy goes. Funnily enough, we follow our major export partners with a couple of years lag.And they haven't even started to pull out of this depression yet (surprise surprise) so there is no way in hell we will for a long, long time.

But my main point is: when the treasury is forecasting a 50 Billion deficit - and when the minister of finance says "that forecast is far too optimistic"

Ackers, for some reason many seem to find bad news appealing. It has been so since the beginning of time. Maybe it is because life keeps getting better and better - as seen in the average life expectancy.

You get sick of all the doomsayers - they should join a cult and commit suicide before all this happens, I think.